Australian group MySale increases revenue by 4% in first half of 2016
Australian company MySale, owner of pureplay online retailers MySale, Cocosa and BuyInvite, saw its revenue grow by 4% to A$128.2 million in the first six months to 31 December 2015, driven by a significant growth in South-East Asia.
Underlying EBITDA was up to A$1.5 million, in contrast with the significant losses (-A$11.4 million) incurred in the first half of last year.
For the period, gross profit jumped 16% driven by 250bp margin improvement.
MySale, which trades from the online shopping destinations OzSale, NzSale, SingSale, MySale, BuyInvite and Cocosa in Australia, New Zealand, Singapore, Malaysia, Thailand, the Philippines, the UK and Hong Kong, said the group saw the most significant growth in revenue and gross profit in South-East Asia. A key element of the company’s plan, the territory has a substantial population, increasing disposable income, lack of off-price competition and high mobile penetration.
Carl Jackson, CEO, commented: “We carry strong momentum into the second half of the year in all areas of our business and we have a platform which is capable of supporting a much bigger business."
"The fact that our South-East Asian operation is seeing such strong growth in sales and margin is clear evidence that our strategy is working in this market. South-East Asia represents a huge growth opportunity for our business. The Board is confident the Group is on track to meet its expectations for the financial year as a whole and we will continue to invest to drive growth.”
The Group expects its acquisition of the Australian Online Retail Business from Grays eCommerce Group to complete on 31 January 2016 and will provide an exciting opportunity to almost double the active customer base in ANZ and widen the online offer.
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